1315 Madeira Drive SE, Albuquerque, NM 87108
- $522,720
- 3
- BD
- 2
- BA
- 3,233
- SqFt
- List Price
- $522,720
- Status
- ACTIVE
- Days on Market
- 0
- MLS#
- 1108087
- Subtype
- Residential Income
- Year Built
- 1980
- Bedrooms
- 3
- Bathrooms
- 2
- Living Area
- 3,233
- Lot Size
- 8,581
- Acres
- 0.20
- Subdivision
- Summary Plat Tract B Virginia Place Add
- Neighborhood
- Summary Plat Tract B Virginia Place Add
- MLS Area Major
- Southeast Heights
Property Description
This your chance to own a unique part of Albuquerque history and a rare opportunity to acquire a amazing fourplex that was built by the same engineer/ developer who built the world largest free standing wood structure (the Trestle). What is the Trestle you ask? It is the world largest free standing wood structure containing 6.5 million board feet in a structure that is 12 stories tall and 1,000 feet long. Built in the early 1970s for $58M, this structure is part of our cold war history.This fourplex is part of a larger 16 units (4 x fourplexes) community that was developed by Dr. Carl Baum as his primary residence while he worked at Kirtland base for the Air Force. Mr. Baum was known as a world recognized expert on electromagnetic pulse phenomena. He designed and built this portfolio of apartments to be closer to work and model his lifestyle after his work ethic.Measures of investment performance include: at ask price of $522,720, $130,650 per unit, $138.87/sf, 6.92% before reserves CAP rate, a 6.75% after reserves cap rate, and an after tax IRR of 19.2%.
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Additional Information
- Taxes
- $3,387
- Zoning
- MX-M*
- Flooring
- Vinyl
- Appliances
- Refrigerator
- Heating
- Forced Air
- Air Conditioning
- Evaporative Cooling
- Exterior Construction
- Block, Frame, Stucco
- Stories
- 1
- Levels
- One
Mortgage Calculator
Listing courtesy of Todd D Clarke from NM Apartment Advisors, Inc.
Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers’ personal, non-commerical use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.